Monday, October 20, 2008

Current News and Quotes from the Newsmakers

On the financial crisis:

..... "In the long run, the American people can have confidence that our economy will bounce back…. ……America is the best place in the world to start and run a business, the most attractive destination for investors around the globe, and home to the most talented, enterprising and creative workers in the World.” - George W. Bush

…. That’s in the long-run, but as John Maynard Keynes said, “in the long-run, we’re all dead.”

(Just wondering..... why is there no organized response to the crisis from those who have been affected, those who lost their savings, investments, or jobs? There are no protests, no rallies and demonstrations in the Wall Street, bakit nga ba Danny?)

Meanwhile, President Arroyo crowed to the media that the World Bank was going to set up a $10B bail-out fund for Asia. She sounded as if this came about because of her suggestion when she made the announcement.

But the next day, the World Bank issued a denial. The Asian Development Bank likewise said that it had no idea of such a plan. Nakuryente si GMA. But the Palace won’t admit it. Malacanang explained that Pres. Arroyo got the information from Finance Secretary Teves, who is in the US attending a conference. There could have been another meeting where there were changes in plans but the President was not informed. Later that day, Malacanang said that it was the International Monetary Fund, and not the World Bank. Former Senator, now NEDA Director General Ralph Recto, further said, “They are Caucasians and they look alike. It’s not easy to distinguish them.” (that's why Teves was not able to distinguish the WB from the IMF)

But the IMF representative in the Philippines would not confirm this and said that Sec. Teves would be able to clarify this when he arrives tomorrow (Oct 20). Then Malacanang came up with the name of a certain Michael Klein as being the one who actually made the proposal, Philippine officials merely endorsed it and reported it to the President. (E bakit nag-announce na agad si PGMA? Siyempre para siya ang bida. Kaso, palpak pala.)

Hard times? Look good anyway (from PDI as reported by Alcuin Papa)

Diskwento: Panalo ang Manggawang Pilipino Caravan of the Department of Labor and Employment (DOLE) gives free haircuts, massages, manicure and pedicures to workers and their families.

Another probable case of corruption:
There seems to be no end to corruption under PGMA's administration.

105,000 Euros (P6.9 Million) were found by Russian customs authorities in the possession of the wife of newly retired Police Gen. Eliseo de la Paz. Why were they carrying such a huge sum? Why was Gen. de la Paz still sent on travel when his retirement day would fall within the duration of the conference?

“The source of money should be clarified. If it is public money, who authorized it? If it is private money, where did it come from?” - Sen. Miriam D. Santiago

“It is a contingency fund.” – Sec Ronaldo Puno

"There is no such thing as a contingency fund for travel.” – Sen. Panfilo Lacson (There's really none, isn't it Ate Marynat?)

“Napolcom is considering issuing a regulation capping travel emergency funds.” –
..... "If he can liquidate it properly, then there won't be a problem"........ -Napolcom Vice Chair Eduardo Escueta. (But if there is no legal basis for the contingency fund, then, it wouldn't simply be an issue of proper liquidation.)

"The investigation of de la Paz would determine why he was carrying huge sums of money instead of travellers checks." - New PNP Director Verzosa. (Aren't you missing the point Gen. Verzosa? And why was your wife part of the delegation?)

On the lamppost scandal (purchased in Cebu for the ASEAN Conference and was alleged to be overpriced) - Ombudsman Merceditas Guttierez said that "the prosecution is now in doubt that it can prove that the lamppost deals were scandalous????

Heckler in the Cabinet

Quotable quotes from Justice Sec. Raul Gonzalez:

To critics questioning the grant of executive clemency to convict Claudio Teehankee, Jr:
"Plead your case to Jesus Christ."

To the Hultmans: "If they can't accept the decision (of PGMA), they can jump into the lake, very wide naman ang North Sea."..... He also said that they are "hypocrites" for saying that they were never informed about the petition for pardon.

On why high profile prisoners need special quarters (with all the amenities although at their own expense).... "It is a difficult situation to mix them up with the other inmates. You see, inmates tend to kill each other."

And remember his other quotable quotes:

To Susan Roces, when she accused GMA of stealing the presidency not once, but twice... "She's just a griping widow too beautiful to be put in jail."

And to Cory Aquino when she asked for the resignation of PGMA: "She should first take care of her daughter (Kris)".

Latest on the Reproductive Health Bill

Latest survey of the Social Weather Station revealed that majority of the Filipinos are in favor of the passage of the bill.

Other pending bills that deserve to be passed:

HB 4894 filed by Rep. Narciso Santiago III: provides tax incentives to employers who would be promoting breastfeeding (for expenses for equipment such as breast pumps, provision of consultation services, and for providing office space for the exclusive use of mothers who breastfeed or store milk for future use. (What is funny/puzzling is that Cong. Santiago - he's the son of Sen. Miriam Santiago - is a party list representative, and the party he is representing is Agrarian and Rural Concerns (ARC). He is not a farmer and has never been involved in agriculture or agrarian issues, whether in the past and even now that he is supposed to be representing the farmer sector. He is not even one among the many congressmen who filed bills on the extension of the Comprehensive Agrarian Reform Program!)

HB 4910 filed by Rep. Edgar Chatto: This would grant tax incentives up to 10% of their gross income if they render free legal services for the underprivileged.

And finally, for the last item, a different kind of news:

Staying Alive for use in CPR - cardio pulmonary resuscitation - At 103 beats per minute, the old disco song has almost the perfect rhythm to help jump-start a stopped heart, based on the study of Dr. David Matlock of the American Heart Association.

1 comment:

Daet Parochial School Class 67 said...

Hi Toti,

Still wondering why there are no demonstrations in Wall St. ? Well, in general, Americans are very "matured" economically and politically. Why should they not be? America is still the country with the biggest economy despite of the crisis it's having. In politics, it's is still the showcase of democracy in the world. Americans have a lot of respect to the rule of law. And because of the maturity they have, they know what step to take when they are facing a situation like this one. On November 4, we will have a presidential election and Americans will go to the polls to make a strong statement as to their sentiments on this crisis. If they feel that the reason why they are in this financial crisis is because of the mistakes of the present administration, then a democratic candidate will emerge as the winner. If they feel the other way, then a republican will be the President again. Americans knew how important this election is, so you can expect a huge turn-out. On the money front, Americans knew what it takes to invest and play the stocks market. They can win or lose. They can whine and curse those Wall Street people, but in the end they know that it was their sole decision whether to invest or play the stock with full knowledge of the risk they will be taking.Even on my own business, my Fil-Am customers who got involved in investing in Real Estate when the market was great, now that it went bust, they don't blame me as their Real estate broker who sold them the properties, they knew that risk will always be there.One thing about the Americans, when they are facing situation like this, they do things that they feel have be done to alleviate the situation. Like when the price of gasoline keeps on going up like crazy, Americans minimized the use of gas and look what happened, the demand is much much less now than the supply. Now, we are enjoying low gas prices, of course the dip on the stock market also helped a lot.No demos, and Americans will not believe in a character like Chavit Singson to disrespect the rule of law. As they say always, onli in the Philippines. Regards.


Sor Victorina de la Providencia, Mother Superior of Daet Parochial School

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